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Exports and economic growth : The gains from reallocation in Korea

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  • Exports and economic growth
  • Espana, Juan R.
  • Universidad Carlos III de Madrid


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Title Exports and economic growth
Similar Titles
Sub Title

The gains from reallocation in Korea

Material Type Reports
Author(English)

Espana, Juan R.

Publisher

Madrid:Universidad Carlos III de Madrid

Date 2007-08
Series Title; No Working Paper / 92-25
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Economy < Economic Conditions
Holding Universidad Carlos III de Madrid

Abstract

This paper presents some empirical evidence suggesting that promotion of manufactured exports can lead to accelerated rates of growth in a developing economy. Based on a two-sectoral model involving exports i::1d non-exports, a method is developed to measure the gains obtained through a reallocation of resources from the domestic to the external sector. The benefits from [ continued export expansion are found to decline over time. Co integration tests confirm the long-run character of the estimated relationships. A simulation based on a dynamic, optimal control model illustrates the growth effects of different shocks and policies affecting the Korean export sector.